Teacher Retirement System of Texas Invests $878,000 in nVent Electric PLC (NVT)
Teacher Retirement System of Texas acquired a new position in shares of nVent Electric PLC (NYSE:NVT) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor acquired 34,996 shares of the company’s stock, valued at approximately $878,000.
Several other hedge funds also recently made changes to their positions in the company. Iridian Asset Management LLC CT purchased a new position in shares of nVent Electric during the 2nd quarter worth about $162,582,000. Sound Shore Management Inc. CT purchased a new position in nVent Electric in the second quarter valued at approximately $117,987,000. TCW Group Inc. purchased a new position in nVent Electric in the second quarter valued at approximately $35,202,000. Wells Fargo & Company MN purchased a new position in nVent Electric in the second quarter valued at approximately $16,502,000. Finally, Vaughan Nelson Investment Management L.P. purchased a new position in nVent Electric in the second quarter valued at approximately $14,260,000. Institutional investors and hedge funds own 81.60% of the company’s stock.
NYSE NVT opened at $28.08 on Friday. nVent Electric PLC has a one year low of $21.00 and a one year high of $29.84. The company has a current ratio of 2.12, a quick ratio of 1.53 and a debt-to-equity ratio of 0.36.
The company also recently disclosed a quarterly dividend, which was paid on Friday, August 17th. Shareholders of record on Friday, August 3rd were given a $0.175 dividend. This represents a $0.70 annualized dividend and a yield of 2.49%. The ex-dividend date was Thursday, August 2nd.
In other nVent Electric news, Director Randall J. Hogan sold 204,462 shares of the stock in a transaction that occurred on Friday, June 22nd. The shares were sold at an average price of $26.79, for a total value of $5,477,536.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Several research firms recently commented on NVT. Barclays restated a “hold” rating and issued a $25.00 price target on shares of nVent Electric in a report on Friday, July 27th. KeyCorp began coverage on shares of nVent Electric in a report on Tuesday, May 15th. They issued an “overweight” rating and a $29.00 price target on the stock. Susquehanna Bancshares began coverage on shares of nVent Electric in a report on Friday, May 18th. They issued a “positive” rating and a $30.00 price target on the stock. Finally, Royal Bank of Canada began coverage on shares of nVent Electric in a report on Thursday, May 10th. They issued an “outperform” rating and a $29.00 price target on the stock. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. nVent Electric presently has a consensus rating of “Buy” and an average price target of $28.25.
nVent Electric Profile
nVent Electric plc designs, manufactures, markets, installs, and services electrical connection and protection products and solutions in the United States, Canada, and internationally. The company operates through three segments: Enclosures, Thermal Management, and Electrical & Fastening Solutions.
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